Regulator plans to sanction JPMorgan on "Whale" trade - report
A U.S. bank regulator is planning to issue a formal action against JPMorgan Chase & Co, demanding that the bank fix lapses in risk controls that allowed some of its traders to build a risky bet...
View ArticleICE in deal to buy NYSE Euronext as derivatives era takes hold
Intercontinental Exchange announced an $8.2 billion takeover of New York Stock Exchange owner NYSE Euronext in a deal that allows it to tap into a dramatic expansion of demand for clearing financial...
View ArticleIOSCO publishes two reports on credit rating agencies
The International Organization of Securities Commissions (IOSCO) has published two documents on credit rating agencies (CRAs); its final report (PDF) on CRAs' internal controls and...
View ArticleFSA share of UBS fine is £160 million for Libor and Euribor failings
The Financial Services Authority (FSA) has fined UBS AG £160 million ($260.3 million) for misconduct relating to the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor)....
View ArticleForeign banks should review governance, risk practices ahead of new U.S. Fed...
Foreign banks should start reviewing their governance and reporting practices ahead of a plan that would subject them to the same capital rules as large U.S. banks, according to consultants from...
View ArticleBanker sent to New York to face charges in Olympus fraud case
A former Singapore banker accused of helping "liquidate" hundreds of millions of dollars in an accounting fraud at Japan's Olympus Corp was ordered to face charges in New York after he was arrested in...
View ArticleSEC sanctions adviser, CCO over undisclosed speculation
The Securities and Exchange Commission on Friday sanctioned Top Fund Management, Inc., an investment adviser to a mutual fund, and Barry C. Ziskin, its sole control person, for breaching their...
View ArticleMF Global trustee announces settlement deals key to cash payouts
The trustee for the failed MF Global Inc on Saturday announced two key agreements that are expected to accelerate cash payouts to clients and creditors of the failed futures brokerage. James Giddens,...
View ArticleSEC panels on tick size could urge returning to fractional pricing for...
The Securities and Exchange Commission on Friday announced the agenda for a staff roundtable on Tuesday, February 5 at the SEC's Washington, D.C. headquarters to evaluate the impact of tick sizes on...
View ArticleCanada broadens global reach with covered bond law
Canada's covered bond market will be open to a broader range of international investors in 2013 after sweeping changes to the legal framework for the sale of those securities. The long-awaited...
View ArticleWells Fargo agrees to proposed settlement on shareholder actions
Wells Fargo & Co would pay up to $2.5 million in attorneys' fees and implement certain corporate governance changes under a proposed settlement of lawsuits brought by shareholders on behalf of the...
View ArticleFINRA fines Miami broker over AML, supervisory flaws
Financial Industry Regulatory Authority has sanctioned a Miami-based broker-dealer with a primarily Central and South American retail and institutional customer base over deficiencies in the firm's...
View ArticleU.S. charges analyst in IBM insider trading case
U.S. authorities on Wednesday announced charges against a research analyst for trading and tipping others ahead of a 2009 acquisition by computer giant IBM IBM.N, expanding a related insider trading...
View ArticleRajaratnam agrees to pay $1.5 million disgorgement in SEC case
U.S. hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the...
View ArticleWells Fargo doesn't have to pay clients $203 million - court
A U.S. appeals court vacated an injunction and a $203 million restitution order against Wells Fargo & Co in consumer litigation over the bank's overdraft policies, according to a ruling issued on...
View ArticleFINRA fines Pruco, orders restitution over improperly supervised mutual fund...
Pruco Securities was fined $550,000 and ordered to pay restitution and interest to customers who placed mutual fund orders by facsimile or mail and received inferior prices, the Financial Industry...
View ArticleSwiss hint of U-turn reopens rift over bank secrecy
Switzerland's aim of preserving banking secrecy has been cast in doubt after the finance minister suggested all options are open, reopening the debate over a pillar of the country's economy....
View ArticleWatchdog fines Wall St. firms $4.5 million for lobbyist payments
Wall Street's watchdog has fined five large firms over $4.48 million for seeking reimbursement for payments to lobbyists using proceeds from municipal and state bond offerings. The Financial Industry...
View ArticleTrade groups appeal U.S. decision on CFTC mutual funds rule
Two industry trade groups moved on Thursday to appeal a judge's decision earlier this month upholding a new regulation for the mutual funds industry, in a ruling that came as a rare win for the U.S...
View ArticleSEC judge bars fund manager over valuation deficiencies
The chief Securities and Exchange Commission administrative law judge has sanctioned a former mutual fund lead portfolio manager for failing to adequately update the fund's valuation committee on key...
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